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Financial Aid

Financial Aid 101: what to know/what to bring

Cecelia Johnson

on 9 January 2013

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Transcript of Financial Aid

What to know Financial Aid What is Financial Aid? What happens after you apply Complete your 2012 tax return. It is not required to file your tax return before you apply, but it is a good idea since a lot of requested information is the same.
Complete the FAFSA application online or download a copy by going to www.fafsa.ed.gov.
You need to fill out the FASFA form for the year you will be attending college, so if you are attending college next year, Fall 2013, then you will need to fill out the 2013-2014 FASFA form.
Get a PIN. Go to www.pin.edu.gov to fill out an application to receive a U.S Department of Education personal identification number (PIN). Need the PIN to complete the FAFSA. How to apply Documents you will need January 1st is the first day you can file the FAFSA. You should try to file as close to the date as possible. College, state, and private aid deadlines may be much earlier than federal deadlines. Pay attention to your colleges' priority financial aid deadlines.

Make sure you contact the financial aid office at each school you're interested in to make sure they have all needed information. Some schools may need other information. Pay attention to deadlines Your family's financial aid is analyzed using the federal need formula.

You will receive a Student Aid Report (SAR) that contains the data you entered on the FAFSA. The SAR will be emailed or mailed to you.

Review the SAR carefully for errors and follow up directions for making and submitting corrections. Do this in a timely manner! Financial Aid is money that you can apply for to go towards education expenses, such as tuition, room and board, books etc.
Federal student aid comes from the U.S Department of Education.
There are three main categories of federal student aid: Grants, work-study, and loans For the 2013-2014 school year you will need financial information from 2012. You may need to refer to:

List of colleges you applied to
Your Social Security card. It is important that you enter your Social Security Number correctly!
Your parents social security number and birth dates
Your driver's license (if any)
If you work, you need your 2012 W-2 forms and 2012 tax return
Your Parents' 2012 Federal Income Tax Return
Your Alien Registration Number (If you're not a US citizen)
Your current bank statements
Your current business and investment mortgage information, business and farm records, stock, bond and other investment records Other useful resources For a detailed questions-by-questions guide to filling out the FAFSA go to www.fasfa.ed.gov and click the link to "completing the FAFSFA"

Check out the new IRS Data Retrieval Tool. You can use this tool to transfer your income tax data directly from the IRS to your online FAFSA.

For further questions, call the Federal Student Aid Information Center, 800-4-FED-AID.

Or please feel free to stop by room B24 at Wilson. Mr. Fergusson and Ms. Johnson are happy to help answer questions. Although we are not financial aid experts, we can help find the answers. *If you disagree with your financial aid package from the college or university call or write a letter to your financial aid office that better explains your situation and financial hardships. By doing so, they may re-evaluate your situation and find resources to give you a better package. Don't forget to tap into TAP

The New York State Tuition Assistance Program (TAP) helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,000.

After you complete your FAFSA you can apply for TAP. There is a link to the TAP application on the FAFSA submission confirmation page. Or you can go to this link:

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